The proposed Acquisition of the German company by a Chinese company a Veto by US President Barack Obama. The White house block, due to national security concerns, the business, informed the U.S. government on Friday. So, Obama endorsed a recommendation of the US Agency for foreign investment (CFIUS). The arrangement is only valid for the US business by Aixtron.
It is only the third Time since 1990 that a U.S. President of a company that prevents a takeover by a foreign Investor due to safety concerns. An Aixtron speaker wanted to make, on request, first of all, no comment on the decision. The Chinese side had advertised to last for the Takeover. It was a normal Fusion, and have purely economic motives, said a spokesman for the Chinese foreign Ministry. The policy not to interfere in the matter.
branch in the USA, say for Obama
The US government has a say, because the company is based in Herzogenrath near Aachen also has a branch in California with approximately 100 employees. The authority of CFIUS had already adopted it in mid-November against the Takeover by the Chinese, the case, but the White house referred to. The extent to which the Federal government can override a U.S. Veto, is open. A Ministry spokesman stressed that the house decisions independently.
Federal Minister of Economics Sigmar Gabriel (SPD) had agreed to the Deal initially, but after the objection of the Americans, he withdrew his Declaration of no objection, and announced a re-examination.
fear of The USA that the micro-chips from Aixtron can be used in nuclear programs. Aixtron self-referred to such concerns as baseless. A spokesman said in October that Aixtron produce no Chips or components, but systems for the semiconductor industry. Since the company’s founding in 1983, Aixtron have sold more than 3,000 of these systems in the whole world, said the spokesman. In the case of any of the sales, the authorities had refused to give the consent. The machines have been exported to South Korea, Taiwan, and China.
On the stock exchange in the TecDax-listed Aixtron-shares fell on Friday, in the meantime, more than five percent, and continued to the crash of the past few weeks.
Management recommended sale to an Investor
The Chinese Investor, Fujian Grand Chip (GCI), behind the state-controlled funds stuck, had offered in the summer of 670 million euros for the company. Chinese investors are showing increasing interest in German small and medium enterprises and technology companies.
Aixtron manufactures, as well as its 700 employees and production machines for the chip industry, made last but debts due to the price pressure and high development costs. The Management had, therefore, recommended that the offer of the Chinese to accept.